Moody’s rates Hunt notes B2

Moody's Investors Service said it assigned a B2 rating to Hunt Cos., Inc.'s senior secured notes due 2026.

The outlook is stable.

The agency said the rating reflects the company’s opportunistic growth strategy and the inherent risk in its cash flow generation–an income stream from a highly-levered diversified commercial real estate company in the process of integrating newly acquired and recently expanded significant strategic initiatives, including Hunt Financial Securities and Caz Creek Investment Management.

“Leverage, including effective leverage, remains high for its rating category, even with the inclusions of MSR gains. Furthermore, the company primarily pursues a secured financing strategy with a nearly fully encumbered portfolio, which decreases its financial flexibility,” Moody’s said in a news release.

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